Good morning, it's Wednesday and it seems like yesterday was a really busy day for funding announcements in both India and the US. So we have a lot to cover and in news today are InVideo and FreshToHome.
➡️ This has probably been one of the hotter Indian companies I've seen on Twitter lately, and so its no surprise that the company has raised a $15M Series A led by Sequoia Capital with participation from Tiger Global, Hummingbird, RTP Global and Base Partners.
➡️ The company has built a platform that makes it super easy to create and edit videos and has a large template library, which helps users new to video editing get started. The freemium product already has over 800k users and users have created videos in over 75 languages (they have clearly been able to go global very early).
➡️ The company also has some pretty large customers including Reuters, AT&T, Dropbox and P&G. Another interesting tidbit is that certain customers are white-labeling InVideo platform to their own clients. I, too, have used the platform to make a video for a meme a couple months ago and it was super super easy to use.
➡️ The creation process reminded me a bit of Canva which I've used in the past to make random Ads for FB and IG and I can see how InVideo is poised to do the same for video content by making it super easy for anyone to create an edit a video. The product is currently only available on the web, but I think once they release their mobile products (iOS and Android), it'll enable a whole new generation and user base of creators.
➡️ The company currently charges only $10/mon for its premium customers (which is also a steal imo) but it seems like the company wants to make the product cheap/free and then potentially monetize on services around the creation process (you can see hints of this in their templates- some of which are paid). Other than this the company is also working on a multi-player version to make it easier for users to collaborate on videos and the new financing with help on that. In the world of multiplayer tools like Figma, Pitch and Notion, I think InVideo is poised to do amazing.
2. https://bit.ly/35JNnRL: FreshToHome raises a $121M Series C
➡️ If you told me a fresh produce and meat delivery company would raise over $100M several years ago, I probably would've been a little skeptical, but it seems like this subset of online grocery has certainly thrived and probably has the tailwinds of COVID to thank as well.
➡️ The Bangalore based company, FreshToHome, has raised a $121M Series C from the likes of the Investment Corporation of Dubai, Ascent Capital, U.S. Government’s development finance institution (DFC) and the Allana Group. The company is also expanding its operations in the Middle East, currently already being operational in UAE with planned expansions to Saudi Arabia. The company also plans to expand within the country as well.
➡️ The fundraise also helps the company keep up with its rival Licious which raised a $30M Series E last year. The company currently operates in a handful of major Indian cities and processes over 1.5M orders every month (up ~3.5x from last year when it was doing 420k monthly orders). Apart from its fresh produce & meat delivery, it also does daily milk delivery through its acquisition of Doodhwala.
➡️ The company has established its own supply chain network and transports items through trains and planes. It also expects to generate $200M in revenue by next year, which would be quite phenomenal.
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/sehaj23/status/1321215001458143234
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